XPO (NYSE:XPO) Stock: Insider David Bates Sells 2,615 Shares

XPO, Inc. (NYSE:XPO) COO David Bates sold 2,615 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $177.93, for a total transaction of $465,286.95. Following the completion of the sale, the chief operating officer owned 62,120 shares of the company’s stock, valued at $11,053,011.60. This trade represents a 4.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

XPO Trading Up 2.1%

NYSE XPO opened at $179.71 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $21.04 billion, a P/E ratio of 53.01, a PEG ratio of 1.79 and a beta of 1.85. The firm’s 50-day moving average is $191.57 and its two-hundred day moving average is $202.13. XPO, Inc. has a 12 month low of $121.48 and a 12 month high of $232.05.

XPO (NYSE:XPO) last issued its quarterly earnings results on Thursday, July 30th. The transportation company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.22. XPO had a net margin of 4.71% and a return on equity of 29.64%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, sell-side analysts anticipate that XPO, Inc. will post 5.42 earnings per share for the current year.

XPO News Summary

Here are the key news stories impacting XPO this week:

• Positive Sentiment: Bank of America raised its price target to $230 from $228 and maintained a “buy” rating. The new target implies substantial potential upside from the stock’s recent trading level, signaling continued confidence in XPO’s earnings and growth outlook.
• Positive Sentiment: XPO opened two new service centers in Mesa, Arizona, and Cameron, Missouri. The facilities expand capacity in fast-growing freight markets, improve the company’s North American less-than-truckload network and could support future shipment growth. XPO Opens Two New Service Centers in Fast-Growing Freight Markets
• Neutral Sentiment: Chief Financial Officer Kyle Wismans sold 750 shares, while Chief Operating Officer David Bates sold 2,615 shares. Both transactions were executed under pre-arranged Rule 10b5-1 trading plans, reducing the likelihood that the sales reflect a change in management’s view of XPO’s prospects. The executives continue to hold substantial positions.
• Negative Sentiment: Zacks Research downgraded XPO from “strong buy” to “hold.” The change may temper enthusiasm around the shares, particularly as the stock trades below its 50-day and 200-day moving averages and carries a relatively elevated earnings multiple.

Institutional Investors Weigh In On XPO

A number of institutional investors and hedge funds have recently made changes to their positions in XPO. BlackRock Inc. purchased a new position in shares of XPO during the second quarter worth about $2,985,276,000. MFN Partners Management LP purchased a new position in shares of XPO during the 2nd quarter worth approximately $2,026,148,865. Clearbridge Investments LLC lifted its holdings in XPO by 9.7% in the fourth quarter. Clearbridge Investments LLC now owns 2,970,231 shares of the transportation company’s stock valued at $403,684,000 after acquiring an additional 261,935 shares during the period. Bessemer Group Inc. boosted its position in shares of XPO by 115.9% during the 1st quarter. Bessemer Group Inc. now owns 2,420,899 shares of the transportation company’s stock worth $470,986,000 after purchasing an additional 1,299,480 shares in the last quarter. Finally, Findlay Park Partners LLP acquired a new position in shares of XPO during the 2nd quarter worth $236,104,000. 97.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on XPO. JPMorgan Chase & Co. raised their price objective on shares of XPO from $208.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, June 8th. The Goldman Sachs Group restated a “buy” rating and set a $247.00 target price on shares of XPO in a research note on Thursday, July 30th. Raymond James Financial lowered their price target on XPO from $233.00 to $225.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Stephens increased their price target on shares of XPO from $255.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Finally, Citigroup cut their price objective on shares of XPO from $221.00 to $220.00 and set a “neutral” rating on the stock in a report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.91.

XPO Company Profile

XPO, Inc is a transportation and logistics company that provides freight services to businesses in North America and Europe. Its primary business is less-than-truckload (LTL) transportation, which consolidates shipments from multiple customers onto individual trailers. The company serves manufacturers, retailers, distributors and other commercial customers.

XPO’s services include regional, interregional and cross-border LTL transportation, freight pickup and delivery, shipment tracking, and related supply chain solutions.